Seneca House Advisors Has $608,000 Holdings in Elevance Health, Inc. (NYSE:ELV)

Seneca House Advisors reduced its holdings in Elevance Health, Inc. (NYSE:ELV) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,170 shares of the company’s stock after selling 28 shares during the period. Seneca House Advisors’ holdings in Elevance Health were worth $608,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ELV. Bank & Trust Co bought a new position in Elevance Health during the 2nd quarter valued at about $27,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of Elevance Health during the 4th quarter worth approximately $28,000. Palisade Asset Management LLC bought a new position in Elevance Health during the first quarter worth $28,000. Opal Wealth Advisors LLC bought a new position in Elevance Health during the second quarter worth about $28,000. Finally, Strategic Financial Concepts LLC acquired a new stake in Elevance Health during the second quarter worth about $30,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the transaction, the chief executive officer now owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the transaction, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the transaction, the director now directly owns 9,721 shares of the company’s stock, valued at $4,926,213.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,058 shares of company stock worth $17,588,116. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

Shares of ELV stock traded down $6.18 during midday trading on Friday, reaching $492.07. 1,473,893 shares of the company were exchanged, compared to its average volume of 1,018,150. Elevance Health, Inc. has a 12 month low of $435.31 and a 12 month high of $567.26. The company has a market cap of $114.37 billion, a P/E ratio of 18.60, a PEG ratio of 1.17 and a beta of 0.82. The company’s 50 day moving average price is $535.87 and its two-hundred day moving average price is $529.70. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.99 by $0.13. The business had revenue of $43.22 billion during the quarter, compared to analyst estimates of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. Elevance Health’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the company earned $9.04 earnings per share. On average, sell-side analysts expect that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th were paid a $1.63 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.33%. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Truist Financial increased their target price on Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Barclays cut their price target on shares of Elevance Health from $621.00 to $611.00 and set an “overweight” rating on the stock in a report on Thursday, July 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $600.00 price objective on shares of Elevance Health in a report on Tuesday. TD Cowen dropped their price objective on Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a report on Friday, July 19th. Finally, Stephens restated an “overweight” rating and issued a $615.00 price objective on shares of Elevance Health in a research report on Thursday, September 5th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $604.29.

About Elevance Health

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.